Kenneth Clark and Donna Garcia are examining the following summary of cash flows for Pharoah Company for the year ended

January $31,2027.$

Inflows

Kenneth claims that this statement shows that Pharoah had a superb first year, with cash increasing $$39,580.$ Donna replies that it

was not a superb first year. Rather, she says, the year was an operating failure and that $$39,580$ is not the actual increase in cash. The

cash balance at the beginning of the year was $$140,840.$

$($a$)$

Your answer is incorrect.

Using the data provided, determine the net income$/($loss$)$ for the year ended January $31,2027.$ Depreciation expense was

$$55,480.($Enter negative amounts using either a negative sign preceding the number e$.$g$.-45$ or parentheses e$.$g$.(45).)$

Net income $/($loss$)$ $

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$($b$)$

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